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Egypt and World Bank discuss economic reforms and regional risks in Washington

Egypt’s Minister of Planning and Economic Development met with World Bank Group officials during the Spring Meetings of the International Monetary Fund and the World Bank in Washington. The discussions focused on supporting Egypt’s economic reform program and enhancing resilience amidst regional uncertainty. Key topics included the progress of Egypt’s reform agenda, the impact of geopolitical tensions on regional economies, and policy measures to maintain macroeconomic stability and investor confidence. Both parties reviewed scenarios for the regional situation, considering implications for growth and investment. The Planning Minister emphasized the World Bank’s role in Egypt’s development, highlighting efforts to boost private sector involvement in infrastructure through innovative financing and risk mitigation. He also noted the “productive clusters” initiative for localizing industries and creating rural jobs under the “Decent Life” program, aiming for economic empowerment. Additionally, government efforts to foster innovation and entrepreneurship by developing an integrated ecosystem for startups and improving access to finance were outlined. Both sides reaffirmed their commitment to coordinating efforts to support Egypt’s Vision 2030 and advance sustainable economic development.